A new Australian-developed mobile app, called Facebuy, aims to take on eBay and corner the local market for “social selling” before heading international. Facebuy connects with Facebook and Twitter, and makes it easy for users to leverage their social networks to sell items that might otherwise have listed on online sites like eBay.
The company’s CEO, Stephen Chapman, a 20 year old from Manly wants to “change the way the next generation buys and sells online”. Chapman said there was well-publicised dissatisfaction from eBay users over rising seller fees – so FaceBuy’s cheap and low-risk model was perfectly timed.
FaceBuy only charges the seller once an item is sold, a flat fee of $2 (+30c transaction fee). The application is free to download and items are free to list, giving Chapman confidence the app can achieve its objective of 50,000 downloads in its first 12 months.
Chapman, currently completing a Bachelor of Business at UTS, said he’s developed the application working closely with experienced business minds, including Andrew Morello, ‘The Apprentice’ TV Show Winner, now working alongside Mark Bouris at Yellow Brick Road. Furthermore Stephen’s father, Arthur Chapman (Co-Founder / CFO) who has over 25 years’ experience in international trading markets.
FaceBuy has just recently been approved by Apple and launched to the Australian App Store. The company expects to release an Android version shortly and an international launch of the app is planned later this year.